New Delhi, Feb 10 (.) Formula Group, a leading relocation management and corporate mobility services company, has entered into a strategic partnership with Japan’s Relo Group Inc, which has acquired a significant minority stake in the Indian firm as part of its global expansion strategy, an official statement said here on Tuesday.
The partnership marks an important milestone for Formula Group as it looks to strengthen its presence in the employee mobility and corporate relocation segment in India, while also accelerating international growth.
The transaction brings together Formula Group’s established market position, operational expertise and customer-centric approach with Relo Group’s global experience and strong capabilities in the Japanese and international markets.
Grant Thornton acted as the exclusive financial advisor to Formula Group for the transaction.
Industry observers said the alliance is expected to enhance Formula Group’s leadership in integrated corporate mobility solutions in India, while providing Relo Group with a stronger foothold in the fast-growing Indian employee mobility market.
Commenting on the partnership, Ankit Ahuja, Partner at Grant Thornton Bharat, said the collaboration would strengthen Formula Group’s position in relocation and corporate mobility by leveraging Relo Group’s global footprint and expertise, while allowing the Japanese group to tap into Formula Group’s established brand and operational strengths in India.
Founded in 2004, Formula Group provides integrated relocation and corporate mobility services to domestic and international clients, including several Fortune 500 companies. Its services span global mobility programmes, relocation management, destination services, corporate housing, immigration support, fleet management and other related offerings. The company is headquartered in New Delhi and operates across multiple cities in India.
Relo Group, established in 1967 and listed in Japan, is a major provider of outsourced corporate services, particularly in the area of employee mobility and relocation. It supports Japanese enterprises in overseas expansion through services covering international assignments, global consulting, business travel and the integration of foreign employees. . SAS